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Chiro Specialty Profitable?

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dfranklin:
I think you are right...that is what they are doing (Waiving/lowering the copays and OOP).  I remembered awhile back the Doc had mentioned that why should patients with insurance have to pay more OOP then cash patients.....which is why he sets up different plans for his insurance patients.  IE patient A who has a low reimbursement from insurance would have to pay around $100 OOP for each visit so instead he says you will pay $25.00 visist plus what we collect from the insurance payments....I did not like the way he wanted to do it so in the beginning so I said Then you guys keep your own books and tracking and I will just submit the insurance claims for you and follow up on them.  I know it leaves some money on the table for me as I then can not get paid on any patient billing, but it was that or not take the account at all becuase I did not want to get tangled up in anything.

As for the software maybe I should look into others if there are other web based that are as comparable and will be less expensive and more profitable.  What ones are there?

The other reason I use the Medrium is because it is part of the package I bought with ABS and I get full support and extras such as they will provide demos to my prospects.  Medrium is really good for the newbies like me that don't have the background in medical billing.  It does the real time error checking and really makes it hard to make a mistake.  It has caught some mistakes by my Provider.  I hope to eventually be so proficient and experienced (like you guys) that I don't have to rely on software etc, but for now that is the other reason I use them.  Has anyone heard of ABS?  Their thoughts?

Thanks!

PMRNC:

--- Quote ---It has caught some mistakes by my Provider.  I hope to eventually be so proficient and experienced (like you guys) that I don't have to rely on software etc, but for now that is the other reason I use them.  Has anyone heard of ABS?  Their thoughts?
--- End quote ---

None I would say on a forum or put in writing but i will tell you to do a bit of research on them to see what pops up. :o

thatcuteblonde:
I bought my Medisoft off Craigslist and didn't have any problems but it was brand new, unopened, etc.  but I agree, you can't just buy the first one that comes along. Programs like Medisoft aren't terribly expensive to begin with and if you're the only one using it you can get a single user version for a reasonable rate. Microwize is the company I've bought through quite a few times when I've done consulting and they were willing to beat any quote we were given by 10%. So that's something you might want to look into as there are no additional charges once you get the software.

Modalities, like stim, ultrasound, manual therapy, etc. can increase the reimbursement per claim by over 100%. I've worked for a Chiro that billed out there ex, manual therapy, nuero muscular re-ed, traction, stim, etc. and his billed amount per claim, on average was 500% more than that of a chiro I worked for who did nothing but $45 adjustments.

Alot of Chiro's discount their services, especially where out of network claims are concerned. They don't want to go in network and take the huge discount but they also don't want to hold the patient responsible for the additional fees. They see it as a win-win scenario.

dfranklin:
If you charge the provider based on ALL of the receivables meaning cash clients in addition to the insurance, how do you handle tracking when the provider is doing plans?  I have a chiropractor who has different monthly plans that give them different things...ie maybe $150/month and you get up to 5 visits in a month or you get xyz and abc per month etc.  How can I track those payments and when a patient comes in and if they have used up their month's worth of service?

PMRNC:
The provider can still let you know about those payments and then also you want to have the adjustment amounts to write off anyway. There are ways he can do this. A daysheet can be kept for cash patients that can show the amount paid, and amount written off/adjusted. Also if your provider gives you the payment deposits he can make a note of the adjustments there.If he's giving you the superbills the payment should be on there and then he can place a note of the adjustment there as well.

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